dynamic adjustments to global shocks australia and the usa richard g harris simon fraser university peter e robertson of new south wales abstract we describe a multi sector trade model three region economy rest world use assess impact external on these large small open economies specifically consider consequences falling manufactured goods prices us productivity boom factor returns accumulation schooling human capital flows structural change find that durables has effect industry structures bilateral also causes reductions in education investment domestic growth as expected impacts but given structure changes have little results suggest if accelerations are isolated then may be for f they induce however implications much more dramatic with respect wages debate indicate very different forces
